Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
https://www.ur-energy.com/news-media/press-releases/detail/339/ur-energy-announces-additional-sales-commitments-success
Ur-Energy is also pleased to announce that the National Nuclear Security Administration ("NNSA"), a semi-autonomous agency of the Department of Energy, has awarded the Company, through its wholly owned subsidiary Lost Creek ISR, LLC, a contract to sell 100,000 pounds of domestically produced U3O8 to the national Uranium Reserve at a sales price of $64.47 per pound. Ur-Energy will provide the material for this one-time purchase from its existing U.S. produced inventory of 324,000 pounds.
Total revenue of $6,447,000 will be realized in March 2023 after the material is delivered to the NNSA. The strong price of the sale is an indication of the value of domestically produced uranium compared to published global prices and is likely an indication that domestic inventories are in short supply.
footage of the akatara project progress on line - month of november...
https://www.jadestone-energy.com/wp-content/uploads/2022/12/Akatara-Development-Site-Footage-November-2022.mp4
https://www.fnarena.com/index.php/2022/12/13/uranium-week-the-russia-factor/
One non-US utility issued a Request for Proposals on November 24, seeking over 5mlbs U3O8 equivalent contained in enriched uranium product, TradeTech reports. The utility is requesting material be delivered between 2023 and 2027, with optional quantities in 2028 through 2030, and has specified that the material be non-Russian in origin.
Increasing inquiries from utilities, along with expectations by sellers that prices will rise in the future, means that utilities are seeing a narrower range of pricing than what has been offered in recent months. Sellers are not only focusing on the price in their offers but are seeking longer-term commitments that extend beyond five years and preferably ten years.
Based on recently concluded transactions, TradeTech notes buyers have shown a willingness to meet sellers at the current price level. Buyers who are confining their purchases to the mid-term delivery period are seeing not only higher prices due to tightness of supply, but tighter terms around quantity flexibility.
That said, TradeTech’s term price indicators remain at US$51.00/lb (mid) and US$53.00/lb (long).
Meanwhile…
With all the action in term uranium markets, and further investment apparently drying up in the Sprott Physical Uranium Trust, the spot uranium market appears to have all but closed down for the year.
Virtual investor conference with andre - streamed 8th Nov 22
hTtps://www.youtube.com/watch?v=8861WIlEukQ
2021 Annual report, Operational Review - page 64
https://www.jadestone-energy.com/wp-content/uploads/2022/06/JSAR21_Website_Version.pdf
In Q3 2022, the 50H and 51H infill development wells are scheduled to be drilled. These development wells are anticipated to complete and come onstream in Q4 2022, and are expected to add around 1,000 bbls/d to current production levels.
malcy blog today....
Nothing much new here from Jadestone but as ever a detailed and helpful analysis of the situation at Montara which is clearly going the distance but will make for a good 2023. Elsewhere the numbers are good with high volumes ensuring that the year finishes as well as possible under the circumstances. I’m looking forward to some activity on the M&A front…
if all goes to plan and with potential oil market uplifts that could take place, this could be back to a quid a share in no time at all - confirmation of montara back online and confirmation of receipt of funds from the lift on the recent acquisition could easily move the stock towards that level before end of year.
I routinely traded the range over the recent times...that being, buying in at 15% to 20% discount to NAV and then selling as it approached below 5% NAV.
Lately we have stayed below 5% Nav with the range being 3% down to less than 1%- with uranium sitting at 50 and the contracting cycle getting every closer, it is possible that bar an outright market wide sell off, we won't see the 20% discount for some time.
Yellowcake is still an equity and at the mercy of the market and we are seeing the cable rate affect the NAV also, so that is also worth keeping an eye on.
Macro backdrop for yellowcake is supportive of the price and even with currency/spot movements, we are fairly well supported, at the current price - a market wide sell off should still see solid support maintained at £4 a share, if it gets that low -
as rogue points out uranium trend is key - as it is decoupled from the rest of the market and won't budge much, if at all, even if the rest of the market goes to hell in a hand cart.
Whenever I have taken profits here, I am usually far more worried about not having a position, than having one and seeing it drop, due to the uranium market fundamentals
I have re-entered again today, just before the close at 431, after trading the run from 431 to 442 yesterday.
posted on another site....
A useful analysis and summary from Moram of JSE’s current assets and prospects, including today’s NSWO completion.
Carlos also includes an updated DCF calculation (using what appear to be conservative assumptions) which value JSE at £1.56. This is without any new acquisitions or Vietnam.
There are analyses of several other energy Cos on the site which may also be of interest.
https://moram.eu/jadestone/
malcy's view...
Whilst this is only the completion of an already announced deal, any chance to remind the market of the company’s ability to do excellent quality, accretive acquisitions should never be missed. As Paul Blakeley says, opportunities like this from IOC’s are meat and drink for the likes of Jadestone and I am hugely confident that there are more where this one came from.
https://media-exp1.licdn.com/dms/document/D4E1FAQFg3RlvLOgOLQ/feedshare-document-pdf-analyzed/0/1665572691377?e=1666828800&v=beta&t=wpVwi-nWmKtemTeOM4vu3jCUH9q-L9GtpEGA035ff44
One view for short-term price upside is due to anticipation that utilities will become more active in the market towards the end of the year. Our conversations with those in the industry have concluded that Q4’22 should be an aggressive quarter of term contracting from utilities, driving total contracted term volumes to and possibly beyond 100m lbs for the year.
Others anticipate that the current broader market environment will soften and see SPUT
return to the market for a strong end to the year. With broader market headwinds calming, SPUT can rejuvenate what has been a comparatively quiet year in uranium purchasing. Both of these outcomes would add further pressure to prices.
https://oceanwall.com/wp-content/uploads/2022/10/Transport-Report.pdf
At the current rate of Chinese procurement of uranium, coupled with their plans to build eight new reactors a year, we could see China sequester 4-5 years of global consumption. With global annual demand for uranium at c.200m lbs/year, that’s potentially 1bn lbs of uranium sequestered from the market.
In addition to the current uranium procurement strategy being executed in China, the government also announced the creation of a strategic uranium stockpile on the Chinese Kazakh border. The Alashankou Uranium Bonded Warehouse is expected to hold 23,000 tons of uranium, equivalent to the annual production of Kazakhstan. While it is estimated that ‘only’ 3,000-4,000 tons are currently being stored at this location, in 2023, this will increase four-fold.
https://www.bne.eu/kazakhstan-offers-europe-chance-to-kick-its-russian-uranium-habit-257334/?source=czech-republic
The uranium producer stated in its mid-year financial statement that it has the confidence to target 2024 uranium output that will be 2000–3000 tU (tonnes of elemental uranium) over the anticipated 2023 level, thanks to mid-term and long-term contracts.
https://www.neimagazine.com/news/industry_news_archive.html
Published continuously since 1956 with more than 60 years of being an independent nuclear technical journal, Nuclear Engineering International covers all aspects of civil nuclear power generation and its related supply chains globally.
Topics covered range from front-end fuel cycle to power plant operations to decontamination & decommissioning. In addition to technical subjects, we also cover market developments, economics, government policy and management issues.